222: Emergency Funds 101
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 24 March 2022
⏱️ 42 minutes
🧾️ Download transcript
Summary
Johnny & Derek go over everything related to the ever important "Emergency Fund". From how to save for it, where to store it, use cases where it saved them and more. It's extremely important to have readily accessible funds for emergencies, but many people still don't do it! Listen to this episode and get your emergency fund sorted before you need it.
Listen to ILAB 222 on iTunes here or subscribe on your favorite podcast app.
Where we are:
- Johnny FD – Greece / IG @johnnyfdj
- Sam Marks – Barcelona / IG @imsammarks
- Derek Spartz – Venice Beach / IG @DerekRadio
Sponsor:
- Indeed
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*Johnny and Sam use all of the above services personally.
Time Stamp:
- 05:55 – What’s the percentage of Americans who can cover a $400 emergency?
- 09:05 – First you need to work out how much you need for an emergency fund?
- 12:53 – Where do you keep the money?
- 16:16 – Don’t have your money all in one currency
- 20:55 – What about saving some money in Bitcoin or other crypto currencies?
- 25:30 – Where can we get the best yields in savings accounts?
- 28:17 – Should you use emergency funds to cover Debts?
- 29:47 – What steps to take to get the emergency fund started?
- 33:41 – How Johnny started his Emergency fund
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Transcript
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| 0:00.0 | What is up bosses? Before we start this episode, I want to tell you about our sponsor this week. |
| 0:05.4 | It is Indeed.com. You've heard me say it before and you already know. Indeed is the hiring |
| 0:12.3 | partner where you can attract, interview, and hire all in one place. So when you're ready to make |
| 0:18.7 | the leap and turn your passion into profit, you need the right team to make it happen. |
| 0:23.9 | Indeed makes it easy to hire and build a team with the right skills to make your dream a reality. |
| 0:30.1 | And indeed is the only job site where you're guaranteed to find quality applications that meet your must have requirements or else you don't pay. |
| 0:39.3 | So instead of spending hours on multiple job sites hoping to find candidates with the right |
| 0:43.4 | skills, you need one powerful hiring partner that can help you do it all. And that is Indeed. |
| 0:50.0 | I'm going to tell you all about Indeed and their awesome features during the break in the show. |
| 0:55.9 | But if you want to check them out right now, you can head over to Indeed.com slash ILab to get your $75 sponsored job credit to upgrade your job post now through March 31st. |
| 1:09.3 | All you got to do is head to Indeed.com slash ILab to claim your |
| 1:13.4 | $75 credit before March 31st. That's Indeed.com slash I-L-A-B. Terms and conditions apply. |
| 1:22.4 | Need to hire you need indeed. Okay. Let's kick off this episode. Welcome to the Invest Like a Boss podcast. I'm Sam |
| 1:29.5 | Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern |
| 1:33.7 | technology to invest like a boss. Join us each week for exclusive interviews with our network |
| 1:37.8 | of modern investors, business owners, and multimillionaires to discover new ways to invest our |
| 1:42.1 | hard-earned cash. |
| 1:50.2 | What's up bosses? Welcome to another episode of Invest Like a Boss. This is episode 22. I'm Derek Sparts here in Los Angeles. I'm getting really bored of saying I'm in |
| 1:57.1 | LA every week because you guys are always in a different spot. Johnny, you're on the move again. |
| 2:02.1 | What's up, man? |
| 2:02.6 | Where are you at? |
| 2:03.8 | Well, last night, I just got into Greece and to the ancient capital city of the old |
... |
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